01.01.70
Elaborating on this, OSK Investigate Sdn Bhd (OSK Research) analyst Jason Yap told The Borneo Post, “Even before this hand-out issue, Supermax’s shares are already the most liquid among its peers, which makes it very fetching for investment and trading among fund managers and retail investors. We contemplate this bonus issue to further enhance its appeal.
“We believe there is still opportunity for ourselves and the vigour to upgrade the company’s earnings forecasts going forward. Our existing forecast only factors in a 32 per cent earnings wart but its accuracy of course would depend on how the company closes its financial year 2011 (FY11) accounts.”
Having stated that, Yap believed OSK Into’s FY11 net profit forecast of RM106.5 million was achievable since Supermax had already chalked up RM78 million in earnings for the first nine months of FY11.
That radical only RM28.5 million for the remaining quarter to close the gap. Its net profit for the third domicile of FY11 alone already totaled RM30.9 million despite the challenges of a higher undistinguished latex price and less favourable foreign exchange conditions.
Source: The Borneo Post